Cogeco 2005 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 2005 Cogeco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

54
Cogeco Cable Inc. 2005
2005 2004 2003
(in thousands of dollars, except other statistics, per share data and ratios) (restated)
$$$
Operations
Revenue 554,404 526,480 489,194
Operating Income 227,521 203,246 175,609
Financial expense 55,692 57,957 61,113
Income before income taxes 46,741 5,075 4,262
Net income (loss) 28,721 (32,194) (124)
Cash Flow
Cash flow from operations 170,938 144,778 112,525
Acquistions of fixed assets and increase in deferred charges 125,671 101,244 110,119
Free Cash Flow 45,267 43,534 2,406
Financial condition
Fixed assets 697,526 687,960 723,273
Net assets employed
(1)
1,595,216 1,619,540 1,663,936
Total assets 1,755,796 1,761,379 1,802,744
Indebtedness 692,481 758,133 806,429
Shareholders’ equity 689,484 663,534 695,089
Other statistics
Number of shares outstanding at year end 39,984,586 39,923,915 39,881,143
Weighted average number of outstanding shares 39,964,857 39,901,595 39,881,871
Per share data (basic)
Operating Income 5.69 5.09 4.40
Net income (loss) 0.72 (0.81) (0.00)
Cash flow from operations 4.28 3.63 2.82
Return ratios
Operating Margin
(2)
41.0)%38.6)% 35.9)%
Return on average net assets employed
(3)
14.2)%12.4)% 10.5)%
Return on equity
(4)
4.2)%(4.7)% (0.0)%
Financial ratios
Net Indebtedness/Operating Income
(6)
3.0 3.7 4.6
Interest coverage
(5)
4.1 3.5 2.9
Net Indebtedness/Shareholders’ equity
(6)
1.0 1.1 1.2
(1)
Total assets less cash and cash equivalents, accounts payable and accrued liabilities and deferred and prepaid income.
(2)
Operating Income/Revenue.
(3)
Operating Income/Average net assets employed.
(4)
Net income applicable to multiple voting shares and subordinate voting shares/Average shareholders’ equity.
(5)
Operating Income/Financial expense.
(6)
Indebtedness net of cash and cash equivalents.
Three-Year Financial Highlights